Golden State Wealth Management LLC Buys Shares of 321 Live Nation Entertainment, Inc. (NYSE:LYV)

Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 321 shares of the company’s stock, valued at approximately $42,000.

Several other large investors also recently modified their holdings of the business. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after acquiring an additional 87,032 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after acquiring an additional 321,832 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after acquiring an additional 385,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares in the last quarter. Finally, ValueAct Holdings L.P. bought a new stake in shares of Live Nation Entertainment in the third quarter worth about $111,094,000. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LYV shares. Macquarie increased their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Bank of America increased their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. TD Cowen increased their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Citigroup increased their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Guggenheim raised their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Trading Down 0.4 %

Shares of LYV stock opened at $146.68 on Wednesday. The firm has a market capitalization of $34.08 billion, a P/E ratio of 156.04, a P/E/G ratio of 1.73 and a beta of 1.38. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $152.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock’s fifty day simple moving average is $136.50 and its 200 day simple moving average is $119.36.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.